(MENAFN) Nissan, the Japanese automaker, announced a substantial 92 percent increase in profits for the fiscal year ending in March, reaching 426.6 billion yen (USD2.7 billion). This surge in profits was attributed to higher sales volumes across all major global markets, with the exception of China. Annual sales experienced a notable uptick of nearly 20 percent, amounting to 12.7 trillion yen (USD81.5 billion).
However, in the final quarter of the fiscal year, spanning from January 2024 to March, Nissan witnessed a slight decline in profits, dipping to 101.3 billion yen (USD650 million) from the previous figure of 106.9 billion yen. Despite this dip in quarterly profits, the company reported a significant 13 percent increase in sales, totaling 3.5 trillion yen (USD22 billion). This rise in sales was primarily driven by the production of Nissan Leaf electric cars, Infiniti luxury models, and Z sports cars.
Looking ahead, Nissan's CEO, Makoto Uchida, outlined the company's strategic vision for further growth, emphasizing a focus on electric vehicles (EVs) to bolster sales. Uchida highlighted the implementation of a strategy dubbed "Arc," which was launched the previous month. This strategy aims to navigate Nissan towards sustained growth, leveraging a balanced product portfolio and optimal business strategies.
"We will pursue our growth objectives incrementally, guided by a comprehensive approach under the 'Arc' strategy," Uchida stated, underscoring the company's commitment to a gradual yet deliberate expansion, particularly in the realm of electric mobility. He emphasized the importance of aligning Nissan's product offerings with evolving consumer preferences and market dynamics to drive sustainable growth in the future.
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